On September 21st, members of the Federal Reserve Board voted to issue an advanced notice of proposed rule making to solicit public input on modernizing and strengthening the Community Reinvestment Act (CRA) regulatory and supervisory framework. Specifically, the...
Affordable Housing Shortage persists with less than 10% of rental units are affordable to renter households earning 50% of median renter income (MRI), according to new research released by Freddie Mac (OTCQB: FMCC) Multifamily. Building on last year’s “Diminishing...
The Texas Department of Housing and Community Affairs (TDHCA) seeks to notify owners and agents of all 2018 9% housing tax credit developments that, under the authority provided by Revenue Procedure 2014-49 and due to the major disaster declaration resulting from the COVID-19 pandemic, the deadline to place in service each building has been extended by six months, going from December 31, 2020, to June 30, 2021.
Section 8(c)(1) of the United States Housing Act of 1937 (USHA), as amended by the Housing Opportunities Through Modernization Act of 2016 (HOTMA), requires the Secretary to publish FMRs not less than annually, adjusted to be effective on October 1 of each federal...
HUD published Preserving Community and Neighborhood Choice, which will replace the 2015 Affirmatively Furthering Fair Housing (AFFH) rule and the 1994 Analysis and impediments (AI) requirements. The new rule states that a HUD grantee’s AFFH certification “will be...
On August 10, HUD published a Notice providing guidance on program rules, waivers, and alternative requirements allowed in accordance with the Coronavirus Aid, Relief, and Economic Security (CARES) Act for the $5 billion in supplemental Community Development Block Grant funding Congress provided to help states and localities respond to the coronavirus pandemic (CDBG-CV). The Notice also provides flexibility and relief for annual formula CDBG grants for fiscal years 2019 and 2020, so that grantees may use regular CDBG resources for those years as part of their coronavirus response.
KeyBank Real Estate Capital arranged a construction loan and permanent financing for the development of affordable housing at The Reserves at San Marcos.
The San Antonio Housing Authority (SAHA) is breaking ground this summer on a 200-unit affordable housing community in downtown San Antonio — a rare opportunity. While SAHA has owned the land since 1994, it was previously used as a storage site.
From Community Impact Aria Grand Apartments, a 70-unit affordable housing complex at 1800 S. I-35, Austin, celebrated its grand opening Jan. 22. The affordable housing community built by O-SDA Industries and Saigebrook Development provides tenants programs to...
The City of Austin's community survey found that 68 percent of Austin residents believe more affordable housing is needed.
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